Thailand: Smoked Salmon Market 2024

Smoked Salmon Market Size in Thailand

The Thai smoked salmon market reduced to $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Smoked Salmon Production in Thailand

In value terms, smoked salmon production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 35% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Smoked Salmon Exports

Exports from Thailand

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were exported from Thailand; waning by -66.5% compared with the year before. In general, exports faced a sharp slump. The pace of growth was the most pronounced in 2013 with an increase of 112% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, smoked salmon exports dropped notably to $X in 2022. Overall, exports faced a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 201%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for smoked salmon exports from Thailand, accounting for a 68% share of total exports. Moreover, smoked salmon exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to -29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+123.7% per year) and Bangladesh (0.0% per year).

In value terms, Japan ($X), Hong Kong SAR ($X) and Bangladesh ($X) constituted the largest markets for smoked salmon exported from Thailand worldwide, together accounting for 99.9% of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +139.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average smoked salmon export price stood at $X per ton in 2022, growing by 27% against the previous year. In general, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 49%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+11.7%).

Smoked Salmon Imports

Imports into Thailand

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were imported into Thailand; waning by -24.8% against 2021. Overall, imports continue to indicate a dramatic setback. The growth pace was the most rapid in 2013 with an increase of 35%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, smoked salmon imports reduced rapidly to $X in 2022. Over the period under review, imports saw a abrupt descent. The pace of growth was the most pronounced in 2013 when imports increased by 43%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Australia (X tons) and Norway (X kg) were the main suppliers of smoked salmon imports to Thailand, together accounting for 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +134.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of smoked pacific, atlantic and danube salmon to Thailand, comprising 53% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 26% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia stood at +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+149.2% per year) and France (-10.6% per year).

Import Prices by Country

In 2022, the average smoked salmon import price amounted to $X per ton, waning by -6.9% against the previous year. Over the period under review, the import price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 84%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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